Company A is a family promoter ownership of 26%. Rest of the shareholding is owned by small and fragmented shareholders, aside to 15% owned by institutional shareholders. Promoters who are seeking to retain control are averse to foreign entry, and therefore, they reject an acquisition bid by an Italian investor. They also argue that the acquisition will impact employment of the existing local employees. While other shareholders do not have any opinion on this, the institutional investors support the bid. They believe that the acquisition will bring in more capital and increase market reach to the company. In this situation:

Discuss the acquisition proposal in light of corporate objectives, which the board may take help from to decide the outcome of the bid in its next meeting